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JamesIG

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I keep getting my BTC trades rejected with no explanation other than'rejected sorry'. Are people coming across the same issue?

 

I raised a ticket with the support desk and apparently the reason for the rejections is that the market was in an 'un-longable' state at the time I attempted my trades. I don't understand why, if the market is open, we are not allowed to place a long position.

 

It almost feels like trades are not allowed when they have a high probability of being winners?

 

Keen to hear if anyone is experiencing this problem.

 

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Big scam report from Canada involving Bitcoin ATM's . 45 people lose $340,000.

2 points, caller id on your phone can be faked, and scammers are demanding payment into a Bitcoin ATM.

 

https://www.financemagnates.com/cryptocurrency/news/scared-vulnerable-canadian-victim-lost-12000-bitcoin-atm-scam/?utm_content=buffer59108&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

 

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Ouch on the scam! As well as placing leaflets at the bitcoin ATMs, the police should be placing leaflets in banks saying, "don't withdraw your savings and give them to a stranger".

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Caseynotes wrote:

NY Times piece on the increasing concerns around crypto exchanges re; hacking and security, disclosure and business models.

 

 

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An interesting article about Bitfinex, I'll definitely continue to avoid them. When you look at what happened at say Equifax, or remember the Bangladesh Bank losing $101 million to hackers, it is any surprise there are also badly run and poorly secured exchanges. It's a shame they don't offer any constructive advice about how to invest safely in the article.

 

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getrichquik wrote:

James, why is trading in cryptos frozen sometimes? What if want to liquidate a position and its low volume?

Hi  - if you were in a position you would be able to close your deal (provided the market was open on IG). The 'unlongable' and 'unborrowable' rejections would only stop a new trade being booked onto an account. I hope this clarifies things. 

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Guest flippyflappy

What would be useful is if we could get a notification when trading crypto currencies is frozen and then unfrozen. At the moment I just have to keep checking manually on each of the ones I want to trade

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Chrisjoe wrote:

If I have a position in Etheruem and my stop or limit isn't hit, will it rollover until tomorrow?

 - yes - all positions will remain open until you either close the position, your stop is hit, or your losses on the account cause margin issues which would cause the position to close. We don't 'roll' positions (close and reopen) they simply stay open until the above criteria are hit. 

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Guest Savvyscot

Agree. Been trying to set up buy orders for over 20mins now...market moving alot and i cant get in. Frustrating! Alerts as to when one can place an order would save a lot of time.

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Guest fmradio05

Haha, Now I found another issue when I think it was brought up in the past too, I am sorry I know I should read up. I tried to buy btc when it was tradiing at 10800 this morning when it was an obvious gain and guess what, I got a "You cannot currently buy this market to open a position" error popped up. Some smart algorithm knew that a lot of people "fomoing" (fear of missing out) and the system rejected my buy order! and for goodness sake, You all are already charging 0.0416% parking fees for each day and why are u all rejecting our longs? I find its quite ridiculous.

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Guest Savvyscot

And it happened again half hour ago when bitcoin dipped. This does seem like a deliberate automated action whenever price dips to a very potentially profitable level. A possible solution iv found - being a savvy scot - is to have orders in the background (granted it eats up your balance with the margin). When price looks good edit to a price that will execute immediately. Voila!

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